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Data is the plural of anecdote: "The founders whose companies die usually only earn small salaries. Before being admitted to Y Combinator, founders usually liv
by lmeyerov 11y ago
Data is the plural of anecdote:
"The founders whose companies die usually only earn small salaries. Before being admitted to Y Combinator, founders usually live off savings or taking loans. During the Y Combinator program, they use a one-off seed investment from Y Combinator of US$120,000 to pay living and business expenses15. If they go on to receive angel investment, they can pay themselves about $50,000 per year. With venture capital funding, this tends to increase to about US$100,000 per year"
(From the section on "What about the companies that died", namely, the case for most founders.)